SBI Card Over Leveraged? Here's the Solution - Experiment

[D₹V]

SBI cards offline application - applying by yourself & sending it to SBI cards office like HDFC Chennai method.


I recently emailed SBI card to issue me 2nd card & this was their reply:



We request you to visit our website www.sbicard.com. On the main page, please click on Cards for You and choose SBI Card of your choice, then click on Learn More. Post that click on Apply Now, it will take you to next page where you can provide the required personal information to apply for card.

(Or)

We would request you to download the application form from website www.sbicard.com and complete the form in all respects and send the original form at the below mentioned address.

SBI Cards and Payments Services Pvt. Ltd,

P.O Box No-16, G.P.O

New Delhi-110001

After completion of necessary formalities, if these adhere as per the policy, we would be able to send your card.

Meaning SBI card can be applied offline by filling form & sending it via post.

So I went to SBI site, scrolled down then click on form center & found this form (attached).

Whoever is unable to get SBI card, please try this method manually & update here.

I believe this can work because SBI will do all verification & stuff manually including CIBIL check. On the other hand, in online application, CIBIL thing is automated & rejects customer instantly citing internal policy (over leveraged).

What docs to send? I didn't see any mention of docs but you can attach income docs, address proof like aadhar or even C2C docs for better approval rate (I saw section of other card number option, so you can try).

P.s. I didn't read the whole form.

P.s. - This is an experimental post & doesn't guarantee 100% approval with trick.

If you copy this post, don't forget to give credit to OP (@D₹V).

 

[HumorSimpson]

The above post copy n pasted here for those who don't have kitty vision
i.e., who don't use Da₹k Version


SBI cards offline application - applying by yourself & sending it to SBI cards office like HDFC Chennai method.


I recently emailed SBI card to issue me 2nd card & this was their reply:

We request you to visit our website www.sbicard.com. On the main page, please click on Cards for You and choose SBI Card of your choice, then click on Learn More. Post that click on Apply Now, it will take you to next page where you can provide the required personal information to apply for card.

(Or)

We would request you to download the application form from website www.sbicard.com and complete the form in all respects and send the original form at the below mentioned address.

SBI Cards and Payments Services Pvt. Ltd,

P.O Box No-16, G.P.O

New Delhi-110001

After completion of necessary formalities, if these adhere as per the policy, we would be able to send your card.

Meaning SBI card can be applied offline by filling form & sending it via post.

So I went to SBI site, scrolled down then click on form center & found this form (attached).

Whoever is unable to get SBI card, please try this method manually & update here.

I believe this can work because SBI will do all verification & stuff manually including CIBIL check. On the other hand, in online application, CIBIL thing is automated & rejects customer instantly citing internal policy (over leveraged).

P.s. - This is an experimental post & doesn't guarantee 100% approval with trick.

If you copy this post, don't forget to give credit to OP (@D₹V).

 

[dianawilson]

Don't they get to know that one is over leveraged by checking the CIBIL manually?

 

[HumorSimpson]

@ all please don't react to the original post but to my above post, so kitty will mend his ways.

 

[prc1990]

Putting brick to keep the line .

 

[HumorSimpson]

Putting brick to keep the line .

original proverb in original language please. Unable to comprehend

 

[R@J]

I think they will still deny the application as they will ultimately enter the details manually from paper application into their system.
Even untill few months ago, SBI Agents would copy the data from Sprint and fill a manual application form at the backend (Gurgaon), and then send for processing (it is because of this reason, that we used to get 2-3 calls asking for each and every thing including spellings on the pretext of verification).


A better experiment would be to get your annual income updated in CIBIL through your other existing cards (not suggested if your actual income is correctly appearing in CIBIL - please do not use false/forged income documents); and then apply after cool off period

In cibil, my income was updated as 1/5 of its actual value and SBI Cards got declined 3 times.... It got corrected recently through another bank application (most likely Amex or HSBC), but I no more require SBI Vistara card - so not checking now if it actually works or not

 

[D₹V]

I think they will still deny the application as they will ultimately enter the details manually from paper application into their system.
Even untill few months ago, SBI Agents would copy the data from Sprint and fill a manual application form at the backend (Gurgaon), and then send for processing (it is because of this reason, that we used to get 2-3 calls asking for each and every thing including spellings on the pretext of verification).


A better experiment would be to get your annual income updated in CIBIL through your other existing cards (not suggested if your actual income is correctly appearing in CIBIL - please do not use false/forged income documents); and then apply after cool off period

In cibil, my income was updated as 1/5 of its actual value and SBI Cards got declined 3 times.... It got corrected recently through another bank application (most likely Amex or HSBC), but I no more require SBI Vistara card - so not checking now if it actually works or not

Thanks for your input. I also have less hopes but can be tried.

One of my friend, saying he'll try but it's definitely long process.

 

[akshayhs]

please do not use false

If IndusInd Bank were literate and could read this, they'd be very upset!

 

[SSV]

It got corrected recently through another bank application (most likely Amex or HSBC), but I no more require SBI Vistara card - so not checking now if it actually works or not

If you change your mind, please apply for SBI card and see if it works..
Because I beilieve the updated income in CIBIL has no-bearing in calculating over-leverage ratio..
what I believe is: it takes income value from the application and takes total CL from CIBIL and generate overleverage ratio on the fly and decides the fate of the application..

So, I would like to know if I am wrong or not.. thanks

 

[D₹V]

If you change your mind, please apply for SBI card and see if it works..
Because I beilieve the pupdated income in CIBIL has no-bearing in calculating over-leverage ratio.. what I believe it takes income value from the application and takes total CL from CIBIL and generate overleverage ratio on the fly and decided the fate of the application..

So, I would like to know if I am wrong or not.. thanks

We share the same belief on over leveraged.

 

[rogerthat]

Thank you for this,

If you change your mind, please apply for SBI card and see if it works..
Because I beilieve the updated income in CIBIL has no-bearing in calculating over-leverage ratio.. what I believe it takes income value from the application and takes total CL from CIBIL and generate overleverage ratio on the fly and decides the fate of the application..

So, I would like to know if I am wrong or not.. thanks

Currently they do not ask for income details on SPRINT application. Not even agents ask for it. They ask only for PAN number and nothing else. This is why it is believed that income details are fetched from CIBIL only.

 

[D7162]

If you change your mind, please apply for SBI card and see if it works..
Because I beilieve the updated income in CIBIL has no-bearing in calculating over-leverage ratio.. what I believe it takes income value from the application and takes total CL from CIBIL and generate overleverage ratio on the fly and decides the fate of the application..

So, I would like to know if I am wrong or not.. thanks

I escalated to PNO, they said let me have a look then.. oh sorry you have too much debt

Then I said, fine, but you already gave me 2 cards with 2.8 lakh each (debt) then why not 3rd card with reducing limits from this cards, so I will not have more *Debt*
They said they can't

Again asked, possible to issue on FD, again said sorry

So I think they won't issue cashback card unless I pay all my debt - I mean close all my cards

 

[rogerthat]

I escalated to PNO, they said let me have a look then.. oh sorry you have too much debt

Then I said, fine, but you already gave me 2 cards with 2.8 lakh each (debt) then why not 3rd card with reducing limits from this cards, so I will not have more *Debt*
They said they can't

Again asked, possible to issue on FD, again said sorry

So I think they won't issue cashback card unless I pay all my debt - I mean close all my cards

That's right. You might be a super successful top tier executive with a monthly salary of like 5 lakhs right now. However even if your cards have a combined limit of more than like 15L (yeah, even if your only card is an Infinia with 15L limit), sorry, as per SBI Card you are an unreliable delinquent mired in debt so no SBI card for you.

 

[SSV]

I escalated to PNO, they said let me have a look then.. oh sorry you have too much debt

Then I said, fine, but you already gave me 2 cards with 2.8 lakh each (debt) then why not 3rd card with reducing limits from this cards, so I will not have more *Debt*
They said they can't

Again asked, possible to issue on FD, again said sorry

So I think they won't issue cashback card unless I pay all my debt - I mean close all my cards

It is all because of this: CRAR
that I explained here in this post..

Post in thread 'CIBIL Score - A Practical Guide'

Jul 27, 2024

all banks good we not even to think of this term
only SBI says the term over leverage.....like 20l TEC they say 41 limit overall as over OMG

That is mainly becuase SBI cards is an independent entity, nothing to do with SBI .. and they need to maintain RBI's guidleins of Capital to Risk-Weighted Assets Ratio (CRAR) ..
They have limited Capital, deposits etc to cater to the needs of all these unsecured loans.. and SBI cards is the leading card provider in this segment.. which means they should provide more captial coverage..

Unlike the other card providers, SBI cards cant...

• SSV

• 
• 

 

[D₹V]

even if your cards have a combined limit of more than like 15L (yeah, even if your only card is an Infinia with 15L limit), sorry, as per SBI Card you are an unreliable delinquent mired in debt so no SBI card for you.

SBI be like: we're running Pradhan Mantri Yuva Rojgar Yojana.

Can't issue card to ultra rich

 

[D7162]

It is all because of this: CRAR
that I explained here in this post..

View attachment 63061

Post in thread 'CIBIL Score - A Practical Guide'

Jul 27, 2024

all banks good we not even to think of this term
only SBI says the term over leverage.....like 20l TEC they say 41 limit overall as over OMG

That is mainly becuase SBI cards is an independent entity, nothing to do with SBI .. and they need to maintain RBI's guidleins of Capital to Risk-Weighted Assets Ratio (CRAR) ..
They have limited Capital, deposits etc to cater to the needs of all these unsecured loans.. and SBI cards is the leading card provider in this segment.. which means they should provide more captial coverage..

Unlike the other card providers, SBI cards cant...

• SSV

• 
• 

Yes but why its not possible to split limit and issue new card ?? they already gave me 5.6 lakh limit in 2 cards, so 5.6 limit in 3 cards should not change anything.

 

[Shin-Chan]

SBICard is very difficult to get third card, they love to onboard NTB and then issue second card here and there but getting third card they take it personally.

 

[D7162]

SBICard is very difficult to get third card, they love to onboard NTB and then issue second card here and there but getting third card they take it personally.

I had 3 cards, one their beloved simply save I closed few years back, may be they are pissed with that . And yes, my wife already have 2 cards and they are sending pre approved offer for 3rd SIMPLY SAVE card

 

[Copycat]

Does the CIBIL income value actually mean anything? According to CIBIL, my income is above 50 crores. I don't think any bank believes that. I have no idea how or why this insane figure got there. I wish it were true though. My actual income is much, much lesser than even 1/100 of that